Posted on 12/30/2014 8:00:38 AM PST by GilGil
To begin with, Russia has no need to sell gold. In fact, Russia added 150 tonnes of gold to its Central Bank holdings in August, September and October. It didn’t make any sense that Russia would then turn around and sell gold. Why? Russia runs a current account surplus - LINK. It has cash on its balance sheet. Something the U.S. can only dream about, as the U.S. Government has to issue debt every hour to fund itself. The last time the U.S. sniffed a positive balance of payments was in the 1980’s.
Second, Russia just got through paying down a big chunk of sovereign debt during Q3. It’s current Debt/GDP ratio is 10%. The U.S. Treasury Debt to GDP is over 100%. Note: this does not include direct obligations like the debt of Fannie Mae and Freddie Mac now guaranteed by the U.S. Government. The last time the U.S. had Debt/GDP of 10? I don’t know, the Fed records only go back 1966 and the lowest that ratio got between then and now was about 30% – LINK.
(Excerpt) Read more at silverdoctors.com ...
I believe the saying goes:” Trust but verify.”
No, but this is true of any administration.
I haven’t believed much from the government since Eisenhower’s farewell address.
“Can We Believe Anything Coming From The U.S. Government?”
The short answer is, “NO!”.....not just, “NO!”, but “HELL, NO!”
Is the Pope Catholic?
From this administration.. no.
See sig
HAHAHAHAHAHA! Silly question.
Maybe paying off sovereign debt in gold coated tungsten bars?
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